BioRestorative Therapies, Inc.

BioRestorative Therapies, Inc. announced significant changes to its Board of Directors. Esha Randhawa and Jatinder Dhaliwal have resigned from their positions. To fill the vacancy, David Jenkins was appointed as a Class III director and will serve until the 2026 annual meeting. Mr. Jenkins has also been appointed as Chair of the Compensation Committee and the Nominating and Corporate Governance Committee, and as a member of the Audit Committee. Donald J. Currie was also appointed to the Audit Committee. The company has fixed the number of directors at four.

BioRestorative Therapies announced the resignations of CEO Lance Alstodt and CFO Robert Kristal, effective July 13, 2026, and Director David Rosa, effective July 11, 2026. Alstodt and Kristal claim their resignations are for "Good Reason" due to a "Change in Control" and are seeking approximately $2.85 million in severance and accelerated equity. The company disputes these claims, has authorized an investigation into the employment agreements, and will withhold payments pending its completion.

BioRestorative Therapies announced the successful completion of manufacturing for its BRTX-100 Phase 2 clinical trial, a key milestone for its lead cell therapy candidate. This manufacturing was completed in the company's cGMP ISO-7 certified facility, supporting ongoing clinical development for chronic lumbar disc disease. The company emphasized the strategic advantages of its vertically integrated regenerative medicine platform, which enables control over quality, consistency, and scalability for both therapeutic and commercial programs.

BioRestorative Therapies, Inc. announced the appointment of Zachary Smith as Vice President of its Biocosmeceuticals Division. This strategic hire aims to strengthen the company's commercial leadership and drive revenue growth within the regenerative aesthetics and advanced skincare market. Mr. Smith brings over 16 years of experience in medical aesthetics and biologics, with a strong track record of scaling sales organizations and developing strategic customer relationships.

BioRestorative Therapies, Inc. entered into a Revolving Loan Agreement with Bowery Group LLC for up to $1,000,000 at a 12% annual interest rate, maturing in one year. This agreement led to the resignation of three directors (Francisco Silva, Nickolay Kukekov, Patrick F. Williams) and the appointment of three new directors (Mika Grasso, Katharyn Field, Jatinder Dhaliwal) designated by the lender, significantly altering the company's board composition and governance.

BioRestorative Therapies, Inc. has entered into a new three-year employment agreement with its Vice President of Research and Development, Francisco Silva. The agreement, effective June 10, 2026, maintains his current annual salary of $575,000 and outlines terms for compensation, benefits, termination, and post-employment restrictions. The filing also details exhibits including the full employment agreement and a cover page interactive data file.

BioRestorative Therapies, Inc. stockholders approved a significant increase in authorized common stock from 75 million to 1.5 billion shares at a Special Meeting. This corporate action provides the company with greater flexibility for future capital raises or strategic initiatives. Additionally, the company entered into new three-year employment agreements with its President, CEO, and Chairman, Lance Alstodt, and its Chief Financial Officer, Robert Kristal, maintaining their current salaries and outlining bonus eligibility and severance terms.

BioRestorative Therapies announced the completion of treatment administration for all 99 patients in its fully enrolled Phase 2 clinical trial evaluating BRTX-100 for chronic lumbar disc disease. The study is now moving into blinded follow-up, with topline safety and efficacy data anticipated in Q2 2027. This milestone follows a positive Type B meeting with the FDA, where the agency provided alignment on key elements for the late-stage development pathway, and the company continues Phase 3 readiness activities.

BioRestorative Therapies reported a reduced net loss of $2.15 million for Q1 2026, an improvement from $5.34 million in Q1 2025, with net loss per share improving to $(0.12). The company significantly bolstered its liquidity by raising $4.4 million in net proceeds from a public offering, increasing cash and cash equivalents to $3.11 million and reducing total current liabilities. However, the company received a Nasdaq notice for non-compliance with the minimum bid price requirement and management expressed substantial doubt about its ability to continue as a going concern.

BioRestorative Therapies announced the presentation of new preclinical data at the International Society for Cell & Gene Therapy (ISCT) 2026 Annual Meeting. The data highlight distinct functional and proteomic differences in extracellular vesicles (EVs) derived from various mesenchymal stem cell (MSC) sources, including umbilical cord, brown adipose tissue, and bone marrow. These findings provide crucial insights for developing targeted exosome-based formulations for both regenerative medicine and aesthetic applications, supporting the company's BioCosmeceutical platform and broader therapeutic programs.